Certificate of entitlement (COE) prices for passenger cars were flat in Wednesday's bidding exercise - the first for September - as buyers stayed away due partly to the Hungry Ghost month but mostly on expectations of much lower premiums.

The outlook for small and medium-sized enterprises in Singapore has fallen to a three-year low with weaker sales and profit forecasts over the next six months across all industries, according to a latest survey.

A 7.7 per cent jump in Japan's Nikkei Average after announcement of a cut in corporate tax, a 4 per cent rise in Hong Kong's Hang Seng Index and a 180-point jump in Dow futures on Wednesday helped the Straits Times Index (STI) extend its rebound into a second consecutive day, this time adding 42.86 points or 1.5 per cent to finish at 2,928.18.